In the market for a used car? If so, you might be a little bit taken aback by the prices right now with prices rising year-on-year for a staggering 29 months in a row. This means that the average price for a used car right now is £17,173 which is a lot for a second-hand vehicle. The reasoning behind rising second-hand costs boils down to high demand and low supply, which is a result of a few factors. Now, more than ever, motorists need to know how to get a good deal in the used car market. Here are a few tips that should help.
Buy From a Reputable Dealer
First, you should always buy from a reputable dealer. It might be tempting to buy privately as this can be cheaper, but this is a risk and you will have less consumer protection. From a reputable dealer, you know that you are getting a reliable used car, you will have consumer protection and the possibility to arrange a finance deal. Reputable dealers will also have deals to take advantage of and you may be able to negotiate a lower price.
Research How Long the Car Has Been on the Market
You should always find out how long a car has been on the market before agreeing on a price. This information is usually easily available online and could give you an opportunity to negotiate a lower price. Sellers will want to move this vehicle on and will be more likely to settle for a price lower than the asking price. You should also research the cost of similar cars in the area to establish a fair value.
Look for Dents, Chips & Scratches
You should also carefully examine the vehicle and look for anything that could allow you to negotiate a better price. Things like dents, scratches and chips can be used to your advantage as they make the vehicle worth less. You do not want to buy a car that is banged up in bad condition, but a few minor cosmetic issues are fine and could work in your favour.
Check MOT Status & History
If you are interested in buying a car, you should always check its MOT status and history before agreeing on a price. If the car is due its MOT then you could ask for a discount as this is a cost that you will have to face, plus checking the history will reveal if it is a car that has required a lot of maintenance and repairs over the years (be wary of anything that has major and/or recurrent issues).
These are a few of the best ways to get a good deal on a used car and will hopefully help you to save money at a time when used car prices are so high.
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